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Monday, October 16, 2017

Hyundai Merchant Marine to Operate on Hanjin's Former Routes

September 1, 2016

file image (Credit: Hyundai Merchant Marine)

file image (Credit: Hyundai Merchant Marine)

Hyundai Merchant Marine Co Ltd said on Thursday it will deploy vessels on routes that bankrupt Hanjin Shipping used to use from South Korea to the United States and Europe, it said in a statement on Thursday.

Hyundai Merchant Marine said it will start on Sept. 8 deploying four ships capable of carrying 4,000 twenty-foot equivalent units (TEU) each, on the route between Busan, South Korea, and Los Angeles.

The company also it will deploy nine ships, capable of carrying up to 6,000 TEU each, to Hanjin Shipping's routes between Busan and select European ports, to be operated as needed.

Freight rates in Hanjin-operated routes jumped and manufacturers are scrambling for limited alternatives after Hanjin Shipping filed for court receivership on Wednesday.

Reporting by Joyce Lee

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